The deal was announced in May when Elefant said two of its shareholders, Millennium Gold Resources Limited and Catalyst Romania SCA SICAR, signed an agreement to sell their 58.84% and 9.62% or 44 million shares to Evolution Prest Systems.
“Elefant Online S.A. informs investors about its shareholders cancelling the transaction whereby Evolution Prest Systems SRL was to acquire 68.4561% in Elefant Online S.A.. The Elefant Online S.A. shareholders will continue to provide the necessary support to conduct the commercial operations of the company optimally,” Elefant’s report to the Bucharest Stock Exchange night says.
Elefant ended the first half with RON53 million sales, compared with RON95 million in the first half of 2022, while losses remained flat, RON11 million, according to the first half report. Operating expenses shrank from RON104 million to RON62 million.
(English version by Loredana Fratila-Cristescu)